Unclaimed Life Insurance Benefits Act

News & Analysis as of

North Carolina General Assembly Week in Review

Two months into the fiscal year and the government is still operating under a continuing resolution (CR). With the CR set to expire at 11:59 pm on Monday, August 31, House and Senate leadership agreed this week to extend the...more

NAIC Unclaimed Benefits Model Drafting (A) Subgroup Identifies Key Model Law Issues

On May 29, the National Association of Insurance Commissioners (the NAIC) Unclaimed Benefits Model Drafting (A) Subgroup (the Subgroup) met to discuss regulator and industry materials submitted to the Subgroup and identified...more

Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or...more

NAIC Unclaimed Life Insurance Benefits Working Group Recommends Development of Model Law and Comment Letter to Uniform Law...

On September 17, 2014, the NAIC's Unclaimed Life Insurance Benefits (A) Working Group (Working Group) discussed its recommendations to the Life Insurance and Annuities (A) Committee (the (A) Committee) concerning unclaimed...more

NAIC's Newly Appointed Unclaimed Life Insurance Benefits Working Group Seeks Comments Before The Spring National Meeting

During its March 13, 2014 conference call, the NAIC's Life Insurance and Annuities (A) Committee appointed an Unclaimed Life Insurance Benefits (A) Working Group charged with "undertaking a study to determine if...more

Legal Alert: NCOIL Unclaimed Property Task Force Springs Into Action; Co-Chair Keiser Seeks Proposed Changes to Model Unclaimed...

On Friday, March 7, 2014, the National Conference of Insurance Legislators’ (NCOIL) Unclaimed Property Task Force (Task Force) met in-person at NCOIL’s spring meeting. Led by the Task Force’s Co-Chair George Keiser (ND), the...more

Recent Court Decisions Concerning Unclaimed Life Insurance Benefits Can Assist Insurers in Defending Regulatory Audits and Future...

Perhaps the most significant litigation, regulatory and compliance issues facing life insurance companies can be found in the unclaimed property audits, multi-state regulatory settlements and class action lawsuits surrounding...more

Legal Alert: Constitutional Challenge to Kentucky's Death Master File Statute Rejected

A Kentucky state trial court has rejected a challenge to a state statute requiring life insurers to search the Social Security Administration Death Master File (DMF) and attempt to locate potential beneficiaries, holding that...more

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